Realty Income Corp., a San Diego-based real estate investment trust, on Wednesday reported 11 percent increases in both earnings and revenue for the second quarter.
The company reported net income available to common stockholders of $59.3 million, or 25 cents per share, in the second quarter, compared to $51.4 million, or 23 cents per share, for the same quarter in 2014.
Revenue increased to $253.9 million from $228.6 million in the year-ago quarter.
“We continue to experience excellent momentum in our business,” said John P. Case, Realty Income’s chief executive officer. “During the second quarter, we completed a near-record volume of acquisitions, executed attractively-priced capital markets transactions, and grew our portfolio occupancy from the first quarter.”
During the quarter, the company invested $721.3 million in 100 new properties and properties under development or expansion. A total of 4,452 properties are under management in 49 states and Puerto Rico.
The results were released after the close of financial markets, and shares rose a fraction of a percent to $48 in after-hours trading.
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